Agência para o Investimento e Comércio Externo de Portugal


Mineral and Financial Investment Limited has converted a sizeable chunk of the zinc resource at Lagoa Salgada in Portugal to Measured & Indicated from Inferred.

Most of the resource is situated within the North Zone and here the M&I resource rose by 71% to 10.3Mt and at a grade of 9.1% zinc equivalent.


Within that, resources in the most certain or measured category rose by 57% to 2.8 Mt at 10.7% ZnEq.


Total zinc resources at the site are 20.7Mt.


Gold mineralisation at the site was also upgraded to 1.7Mt at a grade of 4.6g/t.


MAFL added that drilling in the Central and South Zones identified copper-rich sulphide mineralization and future exploration will focus on expanding and upgrading these areas.


Partner Ascendant carried out the 8,164m drill programme and MAFL is hoping to a preliminary economic assessment can be published before the end of the year.


To date, the North Zone has been delineated by less than a total of 76 holes.